Using real estate to secure your financial future isn't for the faint of heart, but if done right, it has a lot to offer. USA TODAY
WASHINGTON — Groundbreakings on new homes fell 8.2% in December, with builders ending 2017 by slowing down their construction of single-family houses.
The Commerce Department said Thursday that the monthly decline put U.S. housing starts at a seasonally adjusted annual rate of 1.19 million units. Almost all of that decrease came from builders starting fewer single-family houses after robust gains in October and November. The pullback occurred even as the housing market faces a dwindling number of properties for sale.
Still, for all of 2017, housing starts have risen 2.4%. Single-family house construction drove that entire increase, while the construction of apartment complexes plunged last year as more renters appear to be shopping for homes.
Building permits, an indicator of future construction, slipped 0.1% in December to 1.3 million.
Join the Nation's Conversation
To find out more about Facebook commenting please read the Conversation Guidelines and FAQs